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Aryzta's revenues up despite currencies

Tuesday, June 03 14:34:18

Irish-Swiss bakery group, Aryzta, today reported significantly improved revenues for the third quarter, with sales growth lifted by its Food and Origin Enterprises businesses.

The company backed its full year profit forecast.

Group revenue climbed 16.7pc to 1.37 billion euros for the third quarter ended April 30.

During the quarter, total Food revenue increased 14.9pc to 859.8 million euros, despite adverse currency movements.

In the Food Business, underlying revenue growth was 3.7pc year-on-year, whilst acquisitions provided 15.4pc growth. Adverse currency impacted growth in the quarter by 4.2pc.

Food Europe revenue grew 17.6pc to 387.5 million euros. Underlying growth improved in Europe reflecting additional capacity and the improved mix between smaller independent customers and large customers.

Food North America revenue jumped 16.1pc to 419.1 million euros, while Food Rest of World revenue declined 8.1pc to 53.2 million euros.